For commercial building, the City of Greater Bendigo reported a significant increase of $346.4 million in the value of works approved in the past financial year, compared with 2013-14. The value includes the stages of the new Bendigo Hospital and other major developments, such as the train station and Bunnings in Epsom.

The value of the residential building works approved, including extensions, restumping and sheds, was estimated at $307.1 million, down $9.5 million compared with the previous year. 

While permits were approved for the construction of 1037 new dwellings, this was 29 fewer than the previous year, council reported.

The city approved 246 subdivision applications, of which 224 were for residential purposes, which created 1388 new lots.

City strategy manager Trevor Budge said Bendigo’s growth was pushing it close to the top of the state in terms of property development.

“Over the last three-and-a-half years about 5500 residential lots have been constructed in Bendigo, this is a record rate for construction of lots, a record rate of construction of houses,” Mr  Budge said. A dwelling includes house and unit buildings. In the six months to June, 448 new dwellings were approved for construction.

“If you look at the number of houses being constructed in Bendigo compared with the number of people who live here it is a higher equivalent to many of the growth corridors in Melbourne, we are in the top levels for construction in the state,” he said. “A healthy residential construction industry is good for the economy.”